2022 was a historic year for Hindman
. The auction firm reported over $100 million in total sales, marking a record revenue for the second year in a row. The firm also grew significantly across the country to a total of 16 offices and presented major collections for sale. The majority of the 140 auctions in 2022 exceeded their estimates, with a 121 percent average sell-through rate by value and an 89 percent average sell-through rate by lot. More than 30 new records were set. Throughout the year, buyers from more than 70 countries competed for works.
2022 was without a doubt a year of milestones at Hindman, remarked Executive Chairman Jay Krehbiel. From a record in sales to the opening of new locations in New York, Boston and Miami, it was truly a momentous year. Im thrilled that we are kicking off 2023 with Alyssa Quinlan, our former Chief Business Development Director, as CEO, and am looking forward to future successes.
There was no shortage of compelling collections offered at Hindman in 2022. Across categories, we were delighted to highlight figures ranging from the once overlooked Surrealist artist Gertrude Abercrombie to iconic athletes to celebrated names in the business world, commented Hindman Deputy Chairman Molly Morse Limmer. Strong prices and strong stories were found from January all the way through December.
From Santa Fe, New Mexico, Hindman was honored to bring to market The Lifetime Collection of Forrest Fenn. The collection of Native American art realized more than $1.7 million over two auctions held in June and September. Fenn was a prominent dealer, collector and storyteller who became internationally recognized for his hidden treasure.
Larry Nesss carefully curated collection of frontier firearms realized close to $1 million in June.
Kicking off the year, the European Furniture & Decorative Arts and Asian Art departments presented property from renowned philanthropist and businessman Edwin Cox at auction in January and March. Coxs collection achieved a 100 percent sell-through rate and significantly exceeded its total.
The firm was also pleased to showcase the collection of another prominent businessman, Chicago-based Michael L. Wilkie, who was known for his spectacular penthouse on 1500 North Lake Shore Drive. The sale was highlighted by a pair of English Giltwood Sofas, which achieved $125,000. The collection also featured Lê Phổs painting Femme Peignant, which sold for $337,500, a record price for a work by the artist sold at auction in the United States.
Collectors also vied for extraordinary objects in the October auction Gold Boxes and Vertu from the Estate of a Prominent Kansas City Collector, with the sale doubling its total estimate across 42 lots, all of which sold.
A rare collection of letters by notorious American gangster Al Capone took center stage during the November Fine Books & Manuscripts auction. Representing the most significant group of letters by Capone to ever be offered at auction, these letters from the prohibition period feature content unlike any others that have been sold. The collection ultimately realized more than four times its estimate.
The Couture & Luxury Accessories department presented garments from celebrated fashion collectors Susan Gutfreund and Jacqueline Leeds in its March sale. Decembers Couture sale was highlighted by the most significant private collection of haute couture handbags ever offered at Hindman.
Collectibles from revered athletic figures were also included in this years auctions. In August, the Sports Memorabilia department featured a single-owner sale of Kobe Bryant Rookie cards, which represented one of the most comprehensive offerings to ever be auctioned. The momentum continued into the fall with the presentation of the Mike Ditka Collection, featuring property from the legendary Chicago figure and his restaurant.
The Western Art & Wildlife department realized a $1.2 million white glove auction featuring a unique collection from the former Wildlife Experience Museum Collection in Parker, Colorado. Proceeds benefited the Denver Museum of Nature and Science.
The Asian Art department was thrilled to partner with The Strong National Museum of Play to present a robust collection of Asian art, sold to benefit the Collections Fund. The collection originated from the museum's founder, prominent collector and philanthropist, Margaret Woodbury Strong. Bidders were impressed by the distinctive collection built by both Margaret and her mother, working with some of the top Asian dealers of the time. The sale doubled its expected estimate.
The firm was also pleased to offer property from The Museum of Fine Arts, Houston, and from prominent builder John Wielands private institution, the Warehouse, in Atlanta, Georgia. Property was also offered from the Boca Raton Museum of Art and the Indianapolis Museum of Art at Newfields to benefit their acquisitions funds.
Hindman also worked with the Collections of Webster University, St. Louis, Missouri, to offer property sold to benefit the student experience at Webster University, and the Roger Brown Collection at the School of the Art Institute of Chicago, New Buffalo, Michigan to offer property sold to support the School of the Art Institute of Chicago Scholarship Fund.
The Fine Art department cemented its role as a leader in offering works by the late Surrealist artist Gertrude Abercrombie, including breaking its own record when it sold Untitled (Woman with Tethered Horse and Moon) for $437,500 in December. With 28 Abercrombie works offered throughout the year, the Gertrude Abercrombie Collection of Laura and Gary Maurer, the most comprehensive collection of works by Abercrombie to ever come to market, was a significant highlight in September. The majority of works offered exceeded their estimates, realizing an average of $142,344 per lot, driving the sale total to more than $2.8 million.
The firm set a new house record for a week of Fine Art sales in May, realizing nearly $14 million across four days of auctions. Highlights of the series included the sale of Ed Clarks 2006 acrylic on canvas Creation, which realized $740,000 against a presale estimate of $150,000-250,000, the second highest price ever achieved for the artist. A new auction record was set for Fritz Scholder with the sale of Hollywood Indian and Horse #2, which realized $500,000 against an estimate of $50,000-70,000. Iconic artists such as Andy Warhol, David Hockney, Pablo Picasso and Edward Hopper were also in high demand throughout the year.
Hindman continued its streak of selling Andrew Clemens sand bottles for impressive prices with the sale of three sand bottles realizing a total of $1,978,750 in its American Furniture, Folk & Decorative Arts auctions.
2022 brought over $16. 8 million in sales for the Jewelry & Watches department. Successes in Jewelry included the sale of a Harry Winston diamond ring for $362,500 in September. Major collections presented included the Pamela K. Hull Trust, Chicago Illinois. The Hull Collection featured an antique, Russian, yellow gold and diamond nécessaire, which realized $275,000.
The Watches department achieved strong prices for examples by renowned manufacturers such as Patek Philippe, Rolex, Audemars Piguet and more. The October Watch sale was highlighted by a rare Richard Mille RM005 Felipe Massa, wristwatch, which sold for $100,000.
One of Hindmans newest departments, Antiquities and Ancient Art, realized over $1.5 million in its May sale. An Egyptian Gilt Cartonnage Mummy Mask was among notable sales, realizing $175,000 against an estimate of $50,000-60,000.
The Modern Design department concluded its year on a high note by setting a new auction record for Japanese ceramicist Jun Kaneko.
Expansion & New Leadership
Over the past five years, its been thrilling to open new locations and engage with new audiences. 2022 was one of the most noteworthy with our significant expansion to New York, shared Hindmans recently appointed CEO Alyssa D. Quinlan. Looking ahead to 2023, Im excited to see how our presence continues to grow in new regions.
Hindman appointed Gemma Sudlow, a star auctioneer and industry veteran, to launch a new full-service Manhattan saleroom.
Further underscoring its dedication to serving clients across the country, Hindman also opened new offices in Boston and Miami.
In December, Hindman moved its headquarters in Chicago to two new locations, with more than 90,000 square feet, nearly double the space in which it had previously operated.
The firm launched Hindman Appraisals, an independent division, to further elevate its offerings to clients by providing independent, impartial and objective appraisal services. The launch followed a critical year in 2021, marked by a significant expansion of Hindmans appraisal capabilities during which the company appraised nearly a quarter of a billion dollars in fine and decorative arts, jewelry, collectibles, household contents and other tangible personal property, an 800% increase since 2020.
Hindman expanded its Fine Art team with Laura Paterson joining as Director and Senior Specialist of Photographs in New York, Madalina Lazen as Director and Senior Specialist of European Art in Palm Beach and Kate Hlavin as Senior Specialist of Fine Art in Denver.